of June 18, 1996 No. 123-1
About auditor activities
This law determines the legal basis of implementation of auditor activities in Turkmenistan and is directed to creation of system of independent financial control for the purpose of protection of interests of owners.
Auditor activities are understood as carrying out independent audit inspections and provision of other services relating to auditor activities (further auditor services), and also their organizational and methodical support.
Audit inspection (audit) - independent check of correctness of statement of financial accounting and maintaining the financial reporting, their compliance to requirements of the legislation of Turkmenistan, for the purpose of making the conclusion about reliability, completeness and accuracy of reflection by the audited subject of assets, obligations, the capital and financial results in reporting year.
Auditor services include:
- statement, recovery and conducting financial accounting, creation of the financial reporting, analysis of financial and economic activities, assessment of assets and liabilities of business entities;
- assessment of financial provision of issuers of securities;
- value assessment of property of business entities;
- consultation on different aspects of activities and information servicing of business entities;
- other services relating to auditor activities.
The relations connected with implementation of auditor activities are regulated by this Law and other legal acts of Turkmenistan.
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The document ceased to be valid since January 1, 2015 according to article 32 of the Law of Turkmenistan of November 8, 2014